Brent L Saunders Form 3 Bausch & Lomb / BRENT L SAUNDERS ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

SAUNDERS BRENT L

(Last) (First) (Middle)

C/O BAUSCH + LOMB CORPORATION

520 APPLEWOOD CRESCENT

(Street)

VAUGHAN A6 L4K 4B4

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/06/2023

3. Issuer Name and Ticker or Trading Symbol
Bausch & Lomb Corp [ BLCO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO and Chair

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares, No Par Value	375,000(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Options (right to purchase)	(2)	(3)	Common Shares, No Par Value	1,318,681(2)	18.6	D
Performance Stock Units	(4)(5)	(4)(5)	Common Shares, No Par Value	750,000(4)(5)	0	D

Explanation of Responses:

1. Reflects an award of restricted stock units ("RSUs") granted to the reporting person under the Bausch + Lomb Corporation 2022 Omnibus Incentive Plan (the "Plan") on February 23, 2023. Each RSU reflects the right to receive one common share, no par value ("Common Share"), of Bausch + Lomb Corporation (the "Company"), subject to the terms of the Plan and the applicable award agreement. The RSUs are scheduled to vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject generally to the reporting person's continued employment through the applicable vesting date.

2. Reflects an award of stock options to purchase Common Shares granted to the reporting person under the Plan on February 23, 2023. Each stock option reflects the right to purchase one Common Share, subject to the terms of the Plan and the applicable award agreement. The stock options are scheduled to vest and become exercisable in equal installments on each of the first three anniversaries of the grant date, subject generally to the reporting person's continued employment through the applicable vesting date.

3. The stock options will expire on the tenth anniversary of the grant date.

4. Represents an award of performance stock units ("PSUs") granted to the reporting person under the Plan on February 23, 2023. Each PSU reflects the right to receive one Common Share, subject to the terms of the Plan and the applicable award agreement. The target number of shares underlying the PSUs is 750,000 Common Shares, and the maximum number of shares underlying the PSUs is 2,250,000 Common Shares.

5. The PSUs may be earned and vest between 0% and 300% based on achievement of specified share price performance goals (and, if applicable, a relative total shareholder return performance goal), calculated as of the fourth anniversary of the grant date (the "Measurement Date"), subject generally to the reporting person's continued employment through the Measurement Date.

	/s/ Debra E. Levin, attorney-in-fact	03/06/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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